<u>Answer: </u>Production concept
<u>Explanation:</u>
Production concept is based on concentrating on the efficiency of the production and manufacturing. The basis of production concept is to make the goods available to the consumer at affordable prices. By producing in mass quantities the companies believed they can reduce the cost of production.
Also that supply can be increased when the cost of production is lower. Economies of scale can be achieved by the company when they reduce cost of production they can increase their profit earning capacity.
There are usually more positive than negatives when it comes to moving manufacturing from the United States to China. It's cheaper to pay wages in China for the same type of work that someone in America would expect to be paid. Not only can you pay the workers less, you can then afford to expand and hire more people due to saving the money on American wages. Usually, you can also get products cheaper in China and cut down the cost of your product. However, with cheaper labor and materials comes cheaper quality and the quality dropping may hurt consumers willingness to buy.
Answer: Trade between the two countries is beneficial when United States trade food to Canada and Canada would trade televisions to the United States.
Explanation: In international trade, each country will produce a good in which it has a comparative advantage (lower opportunity cost).
Opportunity cost of food is,
Unites states = 
Canada = 
Opportunity cost of television is,
Unites states = 
Canada = 
Since, opportunity cost of food is lower in the United states, United states will export food.
Opportunity cost of television is lower in Canada, Canada will export television to the United States.
Answer:
The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.
However, this change will not affect the net income, as all the items will still be accounted for, accordingly.
Explanation:
GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations. The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs. By this separation, the operating income of GM will increase.
